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File #: 22-256    Version: 1 Name:
Type: Ordinance Status: Public Hearing
File created: 3/28/2022 In control: Board of Supervisors
On agenda: 4/20/2022 Final action:
Title: Public Hearing to Consider the Adoption of an Ordinance to Modify the Real Estate Tax Relief for the Elderly and Disabled
Attachments: 1. Att.A - Real Estate Tax Relief for the Elderly and Disabled Proposed Ordinance
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AGENDA DATE: 4/20/2022

TITLE:
Title
Public Hearing to Consider the Adoption of an Ordinance to Modify the Real Estate Tax Relief for the Elderly and Disabled
BODY

SUBJECT/PROPOSAL/REQUEST: Public hearing to consider the adoption of an ordinance to amend County Code Chapter 15, Taxation, Article 7, Real Property Tax, by modifying the real estate tax relief for the elderly and disabled program criteria

ITEM TYPE: Regular Action Item

STAFF CONTACT(S): Richardson, Hudson, Bessette, Birch, Sumner, Lin, Lynch

PRESENTER (S): Nelsie Birch

LEGAL REVIEW: Yes

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: During the February 16 work session, the Board received and discussed information on current real estate and personal property tax relief/exemption programs, as well as the opportunity to add new programs or modify existing programs. The Board directed staff to bring forth the proposed modifications to the real estate tax relief for the elderly and disabled program.

STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.

DISCUSSION: Albemarle County Code Chapter 15,Taxation, Article 7, Real Property Tax, Division 2, Real Property Tax Exemption for Certain Elderly and Disabled Persons, describes the real property tax relief for the elderly and disabled. The proposed ordinance (Attachment A) would modify the current program by increasing the income threshold from $69,452 to $75,100. For reference, this metric is the County's FY 2020 Housing and Urban Development's 80% of area median income for a family of four. Further, the modification simplifies the relief percentage brackets into three tiers; $0 to $37,550 for 100% relief, $37,551 to $56,325 for 75% relief, and $56,326 to $75,100 for 50% relief. In addition, the financial net worth criteria is expanded to be less than $200,000 for all three o...

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